Global Sterile Medical Packaging Market Overview
The key drivers impacting the sterile medical packaging market are the rapidly rising population and their health requirements with a high prevalence of infectious and non-infectious diseases across the globe. The sterile medical packaging meets aesthetic demands and offers a broad degree of machinability and barrier protection, thus highly popular for medical packaging. Moreover, the growing regulatory compliances for packaging of sterilized medical devices to controlling the spread of infectious diseases contribute to sterile medical packaging market demand in the later years.
According to Value Market Research, the global sterile medical packaging market size was valued at about USD 37 billion in 2020 and is estimated to grow at a CAGR of around 9.8% during the forecast period 2021 to 2027.
The mounting demand for medical devices and surgical equipment with constant attempts of manufacturers, consumers, and governments to raise the level of infection control will likely augment the demand for sterile medical packaging software in the forecast period. There is an augment in preference for contamination-free medical products, as unhygienic packaging might lead to deadly consequences, which are driving the market demand. However, stringent regulations hamper the market in the long run. In addition, maintaining medical packaging integrity impedes market growth. Nevertheless, the market trends, such as the increasing development of new sustainable packaging options and the rising incidence of chronic diseases globally, might provide considerable opportunities to the market's leading players.
The sterile medical packaging market is widespread, with many local and international players. The market leaders follow diverse strategies such as amalgamation, extending product portfolio, acquisitions, contracts, product upgrades to strengthen their market share globally. The key players in the report are West Pharmaceutical Services Inc, SteriPack Ltd, Orchid Chemicals & Pharmaceuticals Ltd, SteriPack Ltd, Riverside Medical Packaging Company Ltd, Wipak Walsrode GmbH & Co. KG, Placon Corporation, Selenium Medical, Oracle Packaging Inc, DuPont De Nemours and Company, Amcor Limited, and Oliver Healthcare Packaging.
In this research report, the sterile medical packaging market is segmented by type, material, application, and region.
Analysis by Type:
By type, the report is segmented into the thermoform trays, vials & ampoules, sterile closures, sterile bottles & containers, pre-fillable inhalers, pre-filled syringes, blister & clamshells, bags & pouches, wrap, and others. The thermoform trays segment dominates with the highest market share in 2020. It is because Thermoformed trays are produced from plastics that come in a huge variety of sizes and shapes and are equipped for internal usage. Moreover, these are versatile in nature and convenient to transport owing to their low weight, thus contributes to the high demand for thermoform trays in the forecast period.
Analysis by Material:
By material, the report is divided into plastics, metals, glass, paper and & paperboard, and others. The plastic segment dominates with a significant market share in 2020. It is due to its high consumption and increasing demand from end-users. Moreover, plastic polymers, such as polypropylene, polyester, and HDPE, are extensively used in the manufacturing of vials & ampoules, bottles, and pre-filled syringes.
Analysis by Application:
By application, the report is divided into pharmaceutical & biological, surgical & medical instruments, in vitro diagnostic products, and medical implants. The pharmaceutical & biological segment dominates with a significant market share in 2020. It is due to the growing healthcare industry and the advent of new healthcare medicines. Moreover, technological advancements have optimized and incorporated the sterile packaging process of pharmaceutical products and made it further capital-intensive is contributing to the pharmaceutical & biological segment growth.
Analysis by Region:
In the regional outlook of the global sterile medical packaging market, the North America region dominates with the largest market share in 2020. It is due to the various regulations pressed by the FDA, which in turn is stimulating the need for sustainable and quality products in the region. Moreover, well-established pharmaceutical industries in the region contribute to the huge market growth across North America.
Market Segmentation covered in the Report:
By Type:
- Thermoform Trays
- Sterile Bottles & Containers
- Vials & Ampoules
- Pre-fillable Inhalers
- Sterile Closures
- Pre-Filled Syringes
- Blister & Clamshells
- Bags & Pouches
- Wraps
- Others
By Material:
- Plastics
- Metals
- Glass
- Paper & Paperboard
- Others
By Application:
- Pharmaceutical & Biological
- Surgical & Medical Instruments
- In Vitro Diagnostic Products
- Medical Implants
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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